Economically going broke...falling apart, the economy goes so does the country.

It is Nothing new... The Three Ds of Recession: A Brief History
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Duration
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Depth
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Diffusion
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Months Percent Change in Real GNP Unemployment Rate, maximum Percent of Industries with Declining Employment, maximum
Three Depressions

Jan. 1920-July 1921 18 n.a. 11.9 97
Aug. 1929-Mar. 1933 43 -32.6 24.9 100
May 1937-June 1938 13 -18.2 20.0 97
Six Sharp Recessions

May 1923-July 1924 14 -4.1 5.5 94
Nov. 1948-Oct. 1949 11 -1.5 7.9 90
July 1953-May 1954 10 -3.2 6.1 87
Aug. 1957-Apr. 1958 8 -3.3 7.5 88
Nov. 1973-Mar. 1975 16 -4.9 9.0 88
July 1981-Nov. 1982 16 -2.6 10.8 72
Five Mild Recessions

Oct. 1926-Nov. 1927 13 -2.0 4.4 71
Apr. 1960-Feb. 1961 10 -1.2 7.1 80
Dec. 1969-Nov. 1970 11 -1.0 6.1 80
Jan. 1980-July 1980 6 -2.5 7.8 63
July 1990-March 1991 8 -1.2 6.9 73
Averages

1920-1938 (5) 20 -14.2 13.3 92
1948-1991 (9) 11 -2.4 7.7 80
SOURCE: Based on table A-2 in G. H. Moore, Business Cycles, Inflation and Forecasting, 2nd ed., 1983. Note that the brief and mild recession of 1945 is omitted here.
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Chart 1. Length of Business Recessions and Expansions
United States, 1790-1991
SOURCE: Compiled from data supplied by the National Bureau of Economic Research Center for International Business Cycle Research, January 1993.
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One significant trend seen in the chart is that recessions have been getting shorter and expansions longer. The average recession during the past fifty years lasted eleven months, whereas the average recession was more than twice that long in the nineteenth century. Expansions, on the other hand, now last about twice as long as they did in earlier times. A number of factors account for this trend. One is the growing importance of the service industries, such as trade and transportation, where employment is usually more stable than in manufacturing. As the more stable industries have grown in importance, this has made the whole economy more stable and less susceptible to prolonged and severe recessions. Also, the government has been playing a bigger role in moderating recessions, especially since the thirties. Unemployment insurance has helped to reduce the loss of income during recessions, and monetary policy has been used to reduce interest rates and make credit more accessible.

Recessions have a global as well as domestic dimension. Financial markets in many countries are closely watched in other countries, and many investors are making investments on an international scale. Exports and imports have become more important to business enterprises, and managements must now deal with global competition. As a result periods of recession are likely to encompass many countries at about the same time. During recessions in the United States, a majority of the industrial countries in Europe and the Pacific are apt to show signs of recession also. This, in turn, has depressing effects on the United States by slowing the foreign demand for U.S. exports.

The upshot is that even though recessions are not as severe as they used to be, they have serious consequences in many directions. Some industries, some occupations, and some areas of the country are hit much harder than others. Hence, it pays to keep close watch on them with all the daily, weekly, monthly, and quarterly data that are available for that purpose.


About the Author
Geoffrey H. Moore is the director emeritus of the Center for International Business Cycle Research, Columbia University, New York.


Further Reading

Burns, Arthur F., and Wesley C. Mitchell. Measuring Business Cycles. 1946.

Center for International Business Cycle Research. Recession-Recovery Watch. Monthly.

Gordon, Robert J., ed. The American Business Cycle: Continuity and Change. 1986.

Moore, Geoffrey H. Business Cycles, Inflation, and Forecasting. 1983.

Moore, Geoffrey H. Leading Indicators for the 1990s. 1989.

U.S. Department of Commerce. Survey of Current Business. Monthly.

What years are those for? From my understanding we are in the largest debt ever that is at the ends of billions of dollars. (thousands of billions). If my understanding is correct this is the first time in history it has been this much.

1993. It's 15 years old. Haha. From the same month that Clinton took office.

The years are on the left..Shows major depressions, major recessions, and minor recessions..I really dont know the debt numbers but I doubt that this is the worst, they say the housing is the worst since the great depression..But whos numbers are you going to believe..The economy goes thru cycles. Is this the worst..Might be in yours and my eyes, but Im only 47 so I was not around back in the 30s,40s,50s...

NP

Being in a recession and the country falling apart are two different things. I am doing fine economically, so is my family and my friends and their families. I don't see chaos in the streets or anything.

Are you saying none of those happened because it was wrote in 1993?? Like I said I was just showing that the economy has fallen many times in history as a responce to Fear&Loathing..I always willing to learn...Enlighten us..

I agree..But I see a lot of my neighbors suffering. Personally it has not affected me to much.So I count my blessings everyday and help out my neighbors when ever I am able..Not everyone is as lucky..

Even tho he's a liar...right? LOL

Correct... some are so braniwashed... Do you actually want to scare them with truth???

BOO!

Hey Quick!

A different perspective than that spewed on FauxNews of course makes him a liar to the Hannity drones...

Even your illustrious leader and idol, Michael Moore (aka Mikhail the odiferous)stated that he bent the truth and added, as truth, what was debatable, peaking interest for the sake of entertainment. Why is it that you accuse everyone who has views differing from yours to be a drone, follower, in lock step, whatever, of FOX news? That would be akin to me stating that you do not have a penis, which:
A. I do not know whether or not you have a penis
B. I do not want to know
C. I would not make that claim since I don't know you
For me to say that you don't have a penis would be equally as ridiculous as you calling me or anyone else a drone of Hannity when you haven't the slightest idea where someone gets their news. For example, where did you get that the US is a democracy? You should investigate that news source for further errors instead of parroting what you are told.
Just a thought.

Democracy or Representative Republic is splitting hairs just a bit, isn't it? At the local level, some even participate in town meetings.

As for your opinions aligning with FoxNoise, they do.

SPACEMAN, CAN WE JUST DUMP HIM IN THE GARBAGE CAN ALONG WITH OBAMA?

MOORE....EWWWWWWWWWWWWW

LINDYY
STANDING UP FOR TRUTH AND MORAL VALUES

No matter how you go about it Michael Moore is a greedy sensationalist. Here is a man that makes his money, and profits off of other people's misery. He uses his tactics to show only one side of a story (his) never offers a counter arguement and parades himself like a self appointed "watchdog." He invades people's privacy and calls it "artistic liscence." He is the worst kind of politician, one that will spout off his mouth, but do nothing, including run for office. He does this because he knows he'd get his @55 handed too him by the voting public.

CLDMOM!!! HATE YOUR CHOICE, BUT LOVE YOU!!!!!! HOW ARE YOU AND THE KIDDOS??

LINDYY

MICHAEL MOORE "OPEN UP YOUR MIND AND LET ME STEP INSIDE" HE DOES NOT HAVE A MIND!!!!

EWWWWWWW

LINDYY

STANDING UP FOR COMMON SENSE